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US House approves tax reconciliation bill, with minor rate changes in international tax provisions

|Tax Alerts, Legislation & Policy, Le ...|United States
United States

  • The House-approved budget reconciliation bill would make small changes to the GILTI, FDII, and BEAT rates but would not change other international tax proposals, including newly proposed IRC Section 899.
 

On May 22, 2025, the House approved the budget reconciliation bill (the House Bill), after incorporating a manager's amendment. Compared to the bill approved by the House Ways and Means Committee on May 13, 2025, the House Bill would slightly modify the rates for global-intangible-low-taxed…

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